Can I retire at age 60 with 890,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $890,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$73,495$72,841$72,202$71,579$70,970$68,864
2 years$36,384$35,706$35,050$34,413$33,795$31,691
3 years$24,015$23,334$22,679$22,049$21,441$19,404
4 years$17,832$17,153$16,505$15,885$15,292$13,338
5 years$14,123$13,448$12,808$12,201$11,625$9,759
6 years$11,651$10,982$10,351$9,757$9,198$7,423
7 years$9,886$9,222$8,602$8,022$7,481$5,796
8 years$8,563$7,905$7,295$6,729$6,206$4,610
9 years$7,534$6,883$6,283$5,732$5,226$3,718
10 years$6,712$6,067$5,478$4,941$4,453$3,030
11 years$6,040$5,401$4,823$4,300$3,830$2,490
12 years$5,480$4,848$4,280$3,772$3,319$2,059
13 years$5,006$4,381$3,824$3,330$2,894$1,712
14 years$4,601$3,982$3,436$2,956$2,537$1,429
15 years$4,250$3,638$3,102$2,636$2,234$1,197
16 years$3,943$3,338$2,812$2,360$1,974$1,006
17 years$3,673$3,074$2,559$2,121$1,750$847
18 years$3,432$2,840$2,336$1,911$1,556$714
19 years$3,218$2,632$2,139$1,727$1,387$604
20 years$3,025$2,446$1,963$1,564$1,239$511
21 years$2,851$2,278$1,805$1,420$1,109$433
22 years$2,692$2,127$1,664$1,291$994$367
23 years$2,548$1,989$1,536$1,175$892$311
24 years$2,416$1,864$1,421$1,072$802$264
25 years$2,295$1,749$1,316$979$722$225
26 years$2,183$1,644$1,221$895$650$191
27 years$2,079$1,547$1,133$819$586$163
28 years$1,984$1,458$1,054$751$529$138
29 years$1,895$1,375$980$688$477$118
30 years$1,812$1,299$913$632$431$100
31 years$1,734$1,228$851$580$390$85
32 years$1,662$1,162$794$533$353$73
33 years$1,594$1,100$742$490$319$62
34 years$1,530$1,043$693$451$289$53
35 years$1,470$989$648$415$262$45
36 years$1,414$939$606$383$237$38
37 years$1,360$892$567$352$215$33
38 years$1,310$847$531$325$195$28
39 years$1,262$806$498$300$177$24
40 years$1,217$767$467$276$160$20
41 years$1,174$730$437$255$145$17
42 years$1,133$695$410$235$132$15
43 years$1,094$662$385$217$120$12
44 years$1,057$631$361$201$109$11
45 years$1,022$602$339$185$99$9
46 years$989$574$319$171$90$8
47 years$957$548$299$158$81$7
48 years$926$523$281$146$74$6
49 years$897$499$265$135$67$5
50 years$869$477$249$125$61$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $890,000, adding $2,677 every year, while hoping to spend $52,743 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 65/28/7 Blend
59$890,000$890,000$890,000$890,000
60$983,541$936,371$922,576$1,046,058
61$1,027,744$926,135$897,364$1,077,740
62$1,074,688$913,630$869,540$1,105,825
63$1,124,597$898,689$838,961$1,135,125
64$1,177,716$881,134$805,476$1,165,750
65$1,234,313$860,780$768,929$1,197,828
66$1,294,682$837,427$729,157$1,231,498
67$1,359,144$810,865$685,988$1,266,917
68$1,428,051$780,872$639,243$1,304,260
69$1,501,791$747,214$588,737$1,343,721
70$1,580,787$709,641$534,273$1,385,516
71$1,665,504$667,889$475,647$1,429,886
72$1,756,451$621,682$412,647$1,477,101
73$1,854,189$570,724$345,051$1,527,457
74$1,959,330$514,704$272,624$1,581,288
75$2,072,551$453,293$195,126$1,638,962
76$2,194,592$386,145$112,304$1,700,889
77$2,326,266$312,892$23,891$1,767,527
78$2,468,467$233,145$0$1,839,381
79$2,622,177$146,496$0$1,922,277
80$2,788,477$52,512$0$2,013,824
81$2,968,553$0$0$2,112,950
82$3,163,709$0$0$2,235,629
83$3,375,381$0$0$2,386,287
84$3,605,146$0$0$2,549,876
85$3,854,740$0$0$2,727,636
86$4,126,071$0$0$2,920,935
87$4,421,240$0$0$3,131,276
88$4,742,556$0$0$3,360,311
89$5,092,563$0$0$3,609,862
90$5,474,058$0$0$3,881,932
91$5,890,120$0$0$4,178,724
92$6,344,138$0$0$4,502,666
93$6,839,842$0$0$4,856,428
94$7,381,340$0$0$5,242,949
95$7,973,150$0$0$5,665,468
96$8,620,252$0$0$6,127,547
97$9,328,124$0$0$6,633,110
98$10,102,799$0$0$7,186,479
99$10,950,923$0$0$7,792,410
100$11,879,811$0$0$8,456,143